- Ethereum price prediction is optimistic for a $375 high.
- Ethereum finds strong support at the $350 mark.
- The queen of cryptocurrency moving in an ascending channel since 24th September.
The Ethereum price prediction by Atlas Trades suggests that the cryptocurrency will rise towards the $375 resistance soon. Per the analysts, the cryptocurrency is currently trading inside an ascending channel. Previously, the cryptocurrency varied near $364.
1-Day Ethereum price analysis
Ethereum was priced at $359.88 US Dollars on Bitstamp at the time of writing. The cryptocurrency approached a high at $360.80 during the lsat 24-hour trade.
Would Ethereum price turn bearish?
The Trading View analyst Mudrex believes that the ETHUSD pair will observe a slight downtrend on the 4-hour chart.
Per this Ethereum price prediction, the price has been varying between the upper Bollinger band and the midline. After the cryptocurrency was rejected by the upper band, the price broke the midline support. This means that the cryptocurrency will now see a downtrend and seeking support at the lower Bollinger Band levels.
The trade volume decreased with an increase in the price, yet earlier the trade volume increased with a decrease in the price. The sign shows that the selling pressure is mounting up on the ETH trendline. The Moving Average Convergence Divergence (MACD) line moved below the signal line. While the histogram size appeared increasing in the negative region. This means that the ETH price possesses a bearish bias.
The Relative Strength Index (RSI) closed near 50.00. Which means that the technical indicator is still in the neutral region, and the cryptocurrency is neither oversold nor overbought.
An ascending channel confirmation for ETH price
The Trading View analyst Solldy believes that the ETH price will rise towards the $371 mark, which is where the upper boundary of the ascending channel lies.
Per this Ethereum price prediction, the cryptocurrency currently rests over the lower boundary of the ascending channel. Ethereum entered this ascending channel on the 22nd of September, shortly after the price fell towards the $335 support on the 21st of September.
The ETH price also observed a downward breakout from the ascending channel, which later turned out to be false as the price returned to the channel on the 24th of September. The analyst’s Ethereum price prediction suggests that ETH will rise past the $370 mark soon and test the upper resistance of the ascending channel.
Ethereum price prediction for $375
The Trading View analyst Atlas Trades also believes that the ETH price will rise towards the $372 mark in an ascending channel.
Per the analyst, the cryptocurrency entered this ascending channel on the 24th of September. This Ethereum price prediction by Atlas Trades suggests that the ETHUSD pair will rise towards the upper boundary of the ascending channel, where it will test the support-turned-resistance that lies at the $375 mark. For this trade, the support level was marked at the $335 level.
What’s next for Ethereum?
The Trading View analyst Gideon Scale believes that the ETH price will fall towards the $323 mark soon. The analyst highlighted an ascending trendline on the 4-hour chart for the trading pair.
Per this Ethereum price prediction, the cryptocurrency fell fall towards the $323 mark as the ascending support is about to deplete and the descending resistance of the green channel has rejected the price.
Disclaimer: The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
